DoorDash (NASDAQ:DASH) Price Target Raised to $142.00 at Wells Fargo & Company

DoorDash (NASDAQ:DASH) had its target price boosted by equities research analysts at Wells Fargo & Company from $127.00 to $142.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential downside of 1.97% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $160.00 target price on shares of DoorDash in a research report on Monday, September 30th. UBS Group increased their price objective on DoorDash from $125.00 to $143.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Raymond James initiated coverage on shares of DoorDash in a research report on Tuesday, September 24th. They set an “outperform” rating and a $155.00 target price on the stock. BMO Capital Markets upped their price target on shares of DoorDash from $127.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price objective on shares of DoorDash from $111.00 to $137.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Ten analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.91.

DoorDash Price Performance

DoorDash stock opened at $144.86 on Friday. The business has a 50 day simple moving average of $129.04 and a 200-day simple moving average of $122.36. DoorDash has a 12 month low of $69.90 and a 12 month high of $146.36. The stock has a market capitalization of $59.24 billion, a PE ratio of -134.13, a price-to-earnings-growth ratio of 295.70 and a beta of 1.70.

DoorDash (NASDAQ:DASH) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.38) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.29). The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.54 billion. DoorDash had a negative return on equity of 5.91% and a negative net margin of 4.24%. The firm’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.44) EPS. As a group, equities research analysts anticipate that DoorDash will post 0.01 EPS for the current year.

Insider Activity

In related news, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $105.57, for a total value of $5,278,500.00. Following the sale, the director now directly owns 19,982 shares of the company’s stock, valued at approximately $2,109,499.74. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other DoorDash news, CEO Tony Xu sold 54,166 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $140.06, for a total transaction of $7,586,489.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andy Fang sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $105.57, for a total value of $5,278,500.00. Following the completion of the transaction, the director now owns 19,982 shares in the company, valued at approximately $2,109,499.74. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 281,503 shares of company stock valued at $33,988,063 in the last 90 days. 7.92% of the stock is currently owned by insiders.

Institutional Trading of DoorDash

Institutional investors have recently modified their holdings of the company. US Bancorp DE lifted its position in DoorDash by 9.1% during the fourth quarter. US Bancorp DE now owns 6,874 shares of the company’s stock valued at $680,000 after buying an additional 573 shares in the last quarter. Orion Portfolio Solutions LLC acquired a new position in shares of DoorDash during the 4th quarter valued at $466,000. Campbell & CO Investment Adviser LLC boosted its position in DoorDash by 150.1% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 6,617 shares of the company’s stock worth $654,000 after purchasing an additional 3,971 shares during the period. KBC Group NV increased its holdings in DoorDash by 64.8% in the 4th quarter. KBC Group NV now owns 31,879 shares of the company’s stock valued at $3,153,000 after purchasing an additional 12,538 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in DoorDash by 620.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 25,011 shares of the company’s stock valued at $2,473,000 after purchasing an additional 21,539 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

About DoorDash

DoorDash, Inc, together with its subsidiaries, operates a commerce platform that connects merchants, consumers, and independent contractors in the United States and internationally. The company operates DoorDash Marketplace and Wolt Marketplace, which provide various services, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support.